AMF to adjust costs and fees
Insurance Deposit Insurance Organization Securities
Montréal - As of January 1, 2012, the Autorité des marchés financiers (AMF) will adjust certain costs and fees payable under the laws it administers.
This adjustment pertains to section 83.3 of the Financial Administration Act (the "FAA"), which provides that costs and fees payable under the laws administered by the AMF are, with exceptions, adjusted by operation of law on January 1 of each yearIndexation corresponds to the annual change in the overall average Québec consumer price index without alcoholic beverages and tobacco products for the 12-month period ending on 30 September of the year preceding the year for which the fee is to be adjusted..
All adjusted costs and fees are listed in the two notices to be published in Part I of the Gazette officielle du Québec and section 1.1 of the AMF Bulletin dated December 16, 2011 (Vol. 8, no. 50), available on the AMF website.
An Act respecting the distribution of financial products and services
For several years, fees payable under the Regulation respecting fees and contributions payable of An Act respecting the distribution of financial products and services have been adjusted on January 1 of each year based on the percentage increase in the general Consumer Price Index for Canada for the period ending September 30 of the preceding year. The rate of adjustment effective January 1, 2012 is 3.2%.
With respect to the FAA, fees related to the examination of the distribution guide set out in the Regulation respecting distribution without a representative (Regulation No. 8), will be adjusted by 2.66% as of January 1, 2012.
Securities Act
On January 1, 2012, fees payable under the Securities Regulation of the Securities Act will be adjusted by 2.66%. As of January 1, 2012, interested parties may also consult Chapter II of Title VI of the Securities Regulation, available on the AMF website, and the SEDAR Regulatory Fee Guide, available on the website of the Canadian Securities Administrators.
An Act respecting insurance, Deposit Insurance Act, An Act respecting trust companies and savings companies and An Act respecting financial services cooperatives
Fees payable under the Regulation under the Act respecting insurance, the Regulation respecting the application of the Deposit Insurance Act, the Regulation under the Act respecting trust companies and savings companies and the regulation titled Tariff of fees exigible under the Act respecting financial services cooperatives will also be adjusted by 2.66% as of January 1, 2012.
Derivatives Act
Costs and fees payable under the regulation titled Tariff for costs and fees payable in respect of derivatives of the Derivatives Act will be adjusted as of January 1, 2012 by 2.66%.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial industry.
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Sylvain Théberge
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